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Fortinet vs Stratasys: revenue, profit, margins and growth compared

Fortinet brought in $6.8B of revenue in fiscal 2025, Stratasys $551.1M in fiscal 2025. Revenue changed by +14.2% at Fortinet and -3.7% at Stratasys on the year before, so Fortinet grew faster. Fortinet kept 27.3% of its revenue as net profit, Stratasys -18.9%. Free cash flow was $2.2B at Fortinet and -$7M at Stratasys.

Side by side, latest fiscal year

FTNTSSYS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$6.8B$551.1M
Revenue growth+14.2%-3.7%
Net income$1.9B-$104.3M
Net margin27.3%-18.9%
Free cash flow$2.2B-$7M
Free cash flow margin32.7%-1.3%
Earnings per share (diluted)$2.42-$1.28
Cash$2.5B$94.5M
Debt$996.3Mn/a
Price to earnings71.7n/a
Market value$127.3B$711.8M
Dividend yieldn/an/a
Rank by revenue in sector#72 of 530 · Technology#295 of 530 · Technology

Over the years

Revenue
FTNT FY2018: $1.8BFTNT FY2019: $2.2BFTNT FY2020: $2.6BFTNT FY2021: $3.3BFTNT FY2022: $4.4BFTNT FY2023: $5.3BFTNT FY2024: $6BFTNT FY2025: $6.8BSSYS FY2018: $663.2MSSYS FY2019: $636.1MSSYS FY2020: $520.8MSSYS FY2021: $607.2MSSYS FY2022: $651.5MSSYS FY2023: $627.6MSSYS FY2024: $572.5MSSYS FY2025: $551.1MFY18FY19FY20FY21FY22FY23FY24FY25
FTNT $6.8BSSYS $551.1M
Net income
FTNT FY2018: $334.9MFTNT FY2019: $331.7MFTNT FY2020: $488.5MFTNT FY2021: $606.8MFTNT FY2022: $857.3MFTNT FY2023: $1.1BFTNT FY2024: $1.7BFTNT FY2025: $1.9BSSYS FY2018: -$11MSSYS FY2019: -$10.8MSSYS FY2020: -$443.7MSSYS FY2021: -$62MSSYS FY2022: -$29MSSYS FY2023: -$123.1MSSYS FY2024: -$120.3MSSYS FY2025: -$104.3MFY18FY19FY20FY21FY22FY23FY24FY25
FTNT $1.9BSSYS -$104.3M
Net margin
FTNT FY2018: 18.6%FTNT FY2019: 15.3%FTNT FY2020: 18.8%FTNT FY2021: 18.2%FTNT FY2022: 19.4%FTNT FY2023: 21.6%FTNT FY2024: 29.3%FTNT FY2025: 27.3%SSYS FY2018: -1.7%SSYS FY2019: -1.7%SSYS FY2020: -85.2%SSYS FY2021: -10.2%SSYS FY2022: -4.4%SSYS FY2023: -19.6%SSYS FY2024: -21.0%SSYS FY2025: -18.9%FY18FY19FY20FY21FY22FY23FY24FY25
FTNT 27.3%SSYS -18.9%
Revenue growth
FTNT FY2019: +19.9%FTNT FY2020: +19.9%FTNT FY2021: +28.8%FTNT FY2022: +32.2%FTNT FY2023: +20.1%FTNT FY2024: +12.3%FTNT FY2025: +14.2%SSYS FY2019: -4.1%SSYS FY2020: -18.1%SSYS FY2021: +16.6%SSYS FY2022: +7.3%SSYS FY2023: -3.7%SSYS FY2024: -8.8%SSYS FY2025: -3.7%FY19FY20FY21FY22FY23FY24FY25
FTNT +14.2%SSYS -3.7%
Free cash flow
FTNT FY2018: $585.9MFTNT FY2019: $715.8MFTNT FY2020: $957.8MFTNT FY2021: $1.2BFTNT FY2022: $1.4BFTNT FY2023: $1.7BFTNT FY2024: $1.9BFTNT FY2025: $2.2BSSYS FY2018: $40.4MSSYS FY2019: -$33.6MSSYS FY2020: $859KSSYS FY2021: $10.8MSSYS FY2022: -$89MSSYS FY2023: -$75.2MSSYS FY2024: -$3MSSYS FY2025: -$7MFY18FY19FY20FY21FY22FY23FY24FY25
FTNT $2.2BSSYS -$7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Fortinet and Stratasys

Which is bigger by revenue, Fortinet or Stratasys?

Fortinet is bigger by revenue: $6.8B in fiscal 2025, against $551.1M for Stratasys in fiscal 2025.

Which keeps more of its revenue as profit, Fortinet or Stratasys?

Fortinet had a net margin of 27.3% in fiscal 2025; Stratasys had -18.9% in fiscal 2025.

Which grew revenue faster, Fortinet or Stratasys?

In their latest fiscal years revenue changed by +14.2% at Fortinet and -3.7% at Stratasys.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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